Ship Finance: Where is the Money?

Tuesday, February 08, 2011

By Greg Trauthwein

While capital for the maritime industry remains tight, lenders insist that funding is available for well- managed public companies. At the 17th Annual Joint Shipping Conference held at the Waldorf Astoria Hotel February 8, 2011 - a conference co-sponsored by the Hellenic-American/Norwegian-American Chambers of Commerce - finance leaders addressed the question of capital availability.

"There is a flight to quality," said Martin Lunder, SVP, Nordea Bank. "The window is open, but the mesh is really tight."

Proof is the value of industry deals through Nordea Bank over the past three years, from $30b in 2008 to $8b in 2009 to $15b in 2010.

"Existing companies with a track record have the best access today," said Ted Jadick, president & CEO, DnB Nor Markets. "Availability is limited, but it's there for proven entities."

Regarding market specific outlooks, Wiley Griffiths, executive director, Morgan Stanley, summarizes: "The tanker market is a very tough market right now; containerships still have some upside; and drybulk is a bit of a wildcard, strong on the demand side but everyone is worried about the orderbook."
 


Finance

China COSCO Falls to H1 Net Loss

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday.

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

Cosco Eyes Spanish port of Algeciras

Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0810 sec (12 req/sec)